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Capital raises in the North American cannabis industry have reached a staggering $1.8 billion in the first three quarters of 2017, up from $720 million a year ago, according to Viridian Capital Advisers’ Cannabis Deal Tracker.
The raises are a compilation of deals brokered by 164 public companies and 105 private ones, with an average raise of $6.7 million. That’s more than twice the average raise amount from a year ago of $3 million, Benzinga reported.
More than $1.5 billion of those raises were in exchange for company equity, however, while only $247.5 million were for debt,